Transaction types
A number of transaction types may be performed, including the following:
Sale: where the cardholder pays for goods or service
Refund: where a merchant refunds an earlier payment made by a cardholder
Withdrawal: the cardholder withdraws funds from their account, e.g. from an ATM. The term Cash Advance may also be used, typically when the funds are advanced by a merchant rather than at an ATM
Deposit: where a cardholder deposits funds to their own account (typically at an ATM)
Cashback: where a cardholder withdraws funds from their own account at the same time as making a purchase
Inter-account transfer: transferring funds between linked accounts belonging to the same cardholder
Payment: transferring funds to a third party account
Enquiry: a transaction without financial impact, for instance balance enquiry, available funds enquiry, linked accounts enquiry, or request for a statement of recent transactions on the account
E top-up: where a cardholder can use a device (typically POS or ATM) to add funds (top-up) their pre-pay mobile phone
Mini-statement: where a cardholder uses a device (typically an ATM) to obtain details of recent transactions on their account
Administrative: this covers a variety of non-financial transactions including PIN change
Transaction types
A number of transaction types may be performed, including the following:
http://en.wikipedia.org/wiki/Electronic_Funds_Transfer - Transaction types
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